LEGAL PRECEDENT NONREFUNDABLE DEPOSIT DEEMED INVALIDCalifornia Association of Realtors Feb. 12, 2010An agreement for a "nonrefundable" escrow deposit is invalid and unenforceable, according to the recent California case of Kuish v. Smith (2010 WL 373225). This case serves as a good reminder for REALTORS® that inserting a "nonrefundable deposit" provision into a real property purchase contract may be legally ineffective. The Kuish case involved a $620,000 escrow deposit for the purchase of a $14 million oceanfront home in Laguna Beach. Instead of using a liquidated damages provision, the buyer and sellers merely agreed in the … (1 comments)
dave w at kw: Palm Springs Area Sales Figures for July, 2009
- 08/03/09 11:06 AM
July Market Report Here are the real estate market sales numbers for July, 2009.These numbers are from my own research using the Desert Area Multiple Listing Service. They account for activity in the desert cities of Palm Springs, Cathedral City, Rancho Mirage, Palm Desert, Indian Wells, La Quinta and Indio only. Current Number of Active Listings (Homes for Sale): 4,713New listings that came on the market during the month of July: 951Number of homes that went either contingent or pending during July: 891Number of homes sold in July,2009: 753 (628 sold in July, 2008) … (0 comments)
Friday, February 12, 2010
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